27-Sep-11
PRELIMINARY RESULTS; UPDATED
http://www.taxpolicycenter.org
Click on PDF or Excel link above for additional tables containing more detail and breakdowns by filing status and demographic groups.
Table T11-0366
President Obama's Proposals for the Joint Committee
Baseline: Current Policy
Distribution of Federal Tax Change by Cash Income Percentile, 2013 1
Summary Table
Tax Units with Tax Increase or Cut 4
Cash Income Percentile2,3
Lowest Quintile
Second Quintile
Middle Quintile
Fourth Quintile
Top Quintile
All
With Tax Cut
Pct of Tax
Avg Tax Cut
Units
With Tax Increase
Pct of Tax
Avg Tax
Units
Increase
Percent
Change in
After-Tax
5
Income
Share of
Total
Federal Tax
Change
Average
Federal Tax
Change ($)
Average Federal Tax Rate6
Change (%
Points)
Under the
Proposal
5.7
15.1
17.8
16.8
11.2
12.8
-100
-224
-331
-381
-469
-304
11.4
23.0
34.3
49.7
71.7
33.7
45
74
122
232
7,828
2,512
0.0
0.1
0.0
-0.1
-2.7
-1.4
0.0
-0.5
-0.5
1.0
99.8
100.0
-1
-17
-19
47
5,420
786
0.0
-0.1
0.0
0.1
2.0
1.1
1.8
8.1
15.2
18.9
27.8
21.8
8.0
15.3
16.6
1.5
0.3
-512
-516
-362
-446
-1,436
66.9
69.9
79.3
97.7
99.7
403
683
5,653
90,587
484,626
-0.2
-0.2
-1.6
-7.2
-9.4
2.0
1.6
15.3
80.9
45.5
216
354
4,166
87,173
478,590
0.2
0.2
1.2
4.9
6.1
21.6
23.1
26.2
36.3
41.2
Addendum
80-90
90-95
95-99
Top 1 Percent
Top 0.1 Percent
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version 0411-2).
Number of AMT Taxpayers (millions). Baseline: 4.5
Proposal: 5.1
* Less than 0.05
** Insufficient data
(1) Calendar year. Baseline is current policy. Proposal: repeals certain provisions in the 2001 and 2003 individual income tax cuts for married taxpayers with incomes greater
than $250,000 ($200,000 for singles), indexed for inflation after 2009, as proposed in Administration's FY2012 budget; reinstates 2009 estate tax rate and exemption,
unindexed; limits the value of all itemized deductions and certain other tax expenditures to 28 percent for married taxpayers with AGI greater than $250,000 ($200,000 for
singles), indexed for inflation after 2009; taxes carried interest in investment partnerships as ordinary income; closes loopholes for corporate jet depreciation; repeals oil and
gas subsidies; broadens business tax base; and makes certain changes to international taxation. Estimates assume that taxpayers would adjust their investment portfolio and
optimally pay down their mortgage balance if their tax benefit from mortgage interest were reduced. For a description of TPC's current law and current policy baselines, see
http://www.taxpolicycenter.org/T11-0270
(2) Tax units with negative cash income are excluded from the lowest income class but are included in the totals. For a description of cash income, see
http://www.taxpolicycenter.org/TaxModel/income.cfm
(3) The cash income percentile classes used in this table are based on the income distribution for the entire population and contain an equal number of people, not tax units.
The breaks are (in 2011 dollars): 20% $17,909; 40% $37,090; 60% $64,531; 80% $111,344; 90% $160,377; 95% $227,314; 99% $592,985; 99.9% $2,682,143.
(4) Includes both filing and non-filing units but excludes those that are dependents of other tax units.
(5) After-tax income is cash income less: individual income tax net of refundable credits; corporate income tax; payroll taxes (Social Security and Medicare); and estate tax.
(6) Average federal tax (includes individual and corporate income tax, payroll taxes for Social Security and Medicare, and the estate tax) as a percentage of average cash
27-Sep-11
PRELIMINARY RESULTS; UPDATED
http://www.taxpolicycenter.org
Table T11-0366
President Obama's Proposals for the Joint Committee
Baseline: Current Policy
Distribution of Federal Tax Change by Cash Income Percentile, 2013 1
Detail Table
Cash Income
Percentile2,3
Lowest Quintile
Second Quintile
Middle Quintile
Fourth Quintile
Top Quintile
All
Percent of Tax Units4
With Tax
Increase
With Tax Cut
Percent Change
in After-Tax
5
Income
Share of Total
Federal Tax
Change
Average Federal Tax Change
Dollars
Percent
Share of Federal Taxes
Change (%
Points)
Under the
Proposal
Average Federal Tax Rate6
Change (%
Points)
Under the
Proposal
5.7
15.1
17.8
16.8
11.2
12.8
11.4
23.0
34.3
49.7
71.7
33.7
0.0
0.1
0.0
-0.1
-2.7
-1.4
0.0
-0.5
-0.5
1.0
99.8
100.0
-1
-17
-19
47
5,420
786
-0.3
-0.7
-0.2
0.3
7.7
5.3
0.0
-0.2
-0.5
-0.8
1.6
0.0
0.3
3.2
9.6
17.1
69.6
100.0
0.0
-0.1
0.0
0.1
2.0
1.1
1.8
8.1
15.2
18.9
27.8
21.8
8.0
15.3
16.6
1.5
0.3
66.9
69.9
79.3
97.7
99.7
-0.2
-0.2
-1.6
-7.2
-9.4
2.0
1.6
15.3
80.9
45.5
216
354
4,166
87,173
478,590
0.7
0.8
4.9
15.7
17.3
-0.6
-0.4
-0.1
2.7
1.6
13.6
10.1
16.2
29.7
15.4
0.2
0.2
1.2
4.9
6.1
21.6
23.1
26.2
36.3
41.2
Addendum
80-90
90-95
95-99
Top 1 Percent
Top 0.1 Percent
Baseline Distribution of Income and Federal Taxes
by Cash Income Percentile, 2013 1
Cash Income
2,3
Percentile
Lowest Quintile
Second Quintile
Middle Quintile
Fourth Quintile
Top Quintile
All
Tax Units4
Pre-Tax Income
Number
(thousands)
Percent of
Total
43,362
37,681
32,699
27,208
24,067
166,272
26.1
22.7
19.7
16.4
14.5
100.0
12,130
5,919
4,805
1,213
124
7.3
3.6
2.9
0.7
0.1
Average
(dollars)
Federal Tax Burden
After-Tax Income 5
Average
(dollars)
Percent of
Total
Average
Federal Tax
Rate 6
Percent of
Total
Average
(dollars)
Percent of
Total
10,122
27,586
50,739
87,197
272,779
72,381
3.7
8.6
13.8
19.7
54.6
100.0
186
2,257
7,722
16,406
70,446
14,984
0.3
3.4
10.1
17.9
68.1
100.0
9,936
25,330
43,016
70,791
202,333
57,397
4.5
10.0
14.7
20.2
51.0
100.0
1.8
8.2
15.2
18.8
25.8
20.7
136,031
193,370
338,609
1,767,267
7,871,135
13.7
9.5
13.5
17.8
8.1
29,193
44,299
84,474
555,085
2,765,066
14.2
10.5
16.3
27.0
13.8
106,838
149,071
254,135
1,212,181
5,106,070
13.6
9.2
12.8
15.4
6.7
21.5
22.9
25.0
31.4
35.1
Addendum
80-90
90-95
95-99
Top 1 Percent
Top 0.1 Percent
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version 0411-2).
Number of AMT Taxpayers (millions). Baseline: 4.5
Proposal: 5.1
* Less than 0.05
(1) Calendar year. Baseline is current policy. Proposal: repeals certain provisions in the 2001 and 2003 individual income tax cuts for married taxpayers with incomes greater than $250,000 ($200,000 for
singles), indexed for inflation after 2009, as proposed in Administration's FY2012 budget; reinstates 2009 estate tax rate and exemption, unindexed; limits the value of all itemized deductions and certain other
tax expenditures to 28 percent for married taxpayers with AGI greater than $250,000 ($200,000 for singles), indexed for inflation after 2009; taxes carried interest in investment partnerships as ordinary
income; closes loopholes for corporate jet depreciation; repeals oil and gas subsidies; broadens business tax base; and makes certain changes to international taxation. Estimates assume that taxpayers would
adjust their investment portfolio and optimally pay down their mortgage balance if their tax benefit from mortgage interest were reduced. For a description of TPC's current law and current policy baselines,
see
http://www.taxpolicycenter.org/T11-0270
(2) Tax units with negative cash income are excluded from the lowest income class but are included in the totals. For a description of cash income, see
http://www.taxpolicycenter.org/TaxModel/income.cfm
(3) The cash income percentile classes used in this table are based on the income distribution for the entire population and contain an equal number of people, not tax units. The breaks are (in 2011 dollars):
20% $17,909; 40% $37,090; 60% $64,531; 80% $111,344; 90% $160,377; 95% $227,314; 99% $592,985; 99.9% $2,682,143.
(4) Includes both filing and non-filing units but excludes those that are dependents of other tax units.
(5) After-tax income is cash income less: individual income tax net of refundable credits; corporate income tax; payroll taxes (Social Security and Medicare); and estate tax.
(6) Average federal tax (includes individual and corporate income tax, payroll taxes for Social Security and Medicare, and the estate tax) as a percentage of average cash income.
27-Sep-11
PRELIMINARY RESULTS; UPDATED
http://www.taxpolicycenter.org
Table T11-0366
President Obama's Proposals for the Joint Committee
Baseline: Current Policy
1
Distribution of Federal Tax Change by Cash Income Percentile Adjusted for Family Size, 2013
Detail Table
Cash Income
Percentile2,3
Lowest Quintile
Second Quintile
Middle Quintile
Fourth Quintile
Top Quintile
All
Percent of Tax Units4
With Tax
Increase
With Tax Cut
Percent Change
in After-Tax
Income5
Share of Total
Federal Tax
Change
Average Federal Tax Change
Dollars
Percent
Share of Federal Taxes
Change (%
Points)
Under the
Proposal
Average Federal Tax Rate6
Change (%
Points)
Under the
Proposal
5.0
16.1
18.2
14.9
10.7
12.8
9.9
18.3
31.7
46.6
68.4
33.7
0.0
0.1
0.1
0.0
-2.5
-1.4
0.0
-0.7
-0.5
0.5
100.5
100.0
2
-28
-21
22
4,286
786
-0.7
-1.8
-0.4
0.2
7.3
5.3
0.0
-0.2
-0.4
-0.8
1.4
0.0
-0.3
2.0
7.7
16.3
74.2
100.0
0.0
-0.1
-0.1
0.0
1.9
1.1
-2.5
6.3
13.6
18.4
27.5
21.8
10.0
13.5
11.0
1.0
0.3
61.3
67.5
80.6
97.8
99.6
-0.1
-0.3
-1.4
-7.0
-9.4
1.6
1.8
14.2
82.9
47.6
132
313
3,052
73,933
420,188
0.5
0.8
4.3
15.5
17.3
-0.7
-0.5
-0.2
2.7
1.7
14.7
11.3
17.4
30.8
16.1
0.1
0.2
1.1
4.8
6.1
21.6
23.2
25.8
35.9
41.2
Addendum
80-90
90-95
95-99
Top 1 Percent
Top 0.1 Percent
Baseline Distribution of Income and Federal Taxes
by Cash Income Percentile Adjusted for Family Size, 2013 1
Cash Income
Percentile2,3
Lowest Quintile
Second Quintile
Middle Quintile
Fourth Quintile
Top Quintile
All
Tax Units4
Number
(thousands)
Pre-Tax Income
Percent of
Total
Average
(dollars)
Federal Tax Burden
Percent of
Total
Average
(dollars)
Percent of
Total
After-Tax Income 5
Average
(dollars)
Percent of
Total
Average
Federal Tax
Rate 6
36,065
34,713
33,034
30,538
30,666
166,272
21.7
20.9
19.9
18.4
18.4
100.0
9,430
24,668
44,764
76,122
230,715
72,381
2.8
7.1
12.3
19.3
58.8
100.0
-237
1,572
6,118
13,946
59,132
14,984
-0.3
2.2
8.1
17.1
72.8
100.0
9,667
23,095
38,646
62,176
171,582
57,397
3.7
8.4
13.4
19.9
55.1
100.0
-2.5
6.4
13.7
18.3
25.6
20.7
15,414
7,701
6,085
1,466
148
9.3
4.6
3.7
0.9
0.1
115,967
165,716
289,779
1,533,122
6,917,786
14.9
10.6
14.7
18.7
8.5
24,950
38,098
71,727
476,631
2,427,127
15.4
11.8
17.5
28.1
14.4
91,017
127,618
218,051
1,056,490
4,490,659
14.7
10.3
13.9
16.2
7.0
21.5
23.0
24.8
31.1
35.1
Addendum
80-90
90-95
95-99
Top 1 Percent
Top 0.1 Percent
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version 0411-2).
Number of AMT Taxpayers (millions). Baseline: 4.5
Proposal: 5.1
* Less than 0.05
(1) Calendar year. Baseline is current policy. Proposal: repeals certain provisions in the 2001 and 2003 individual income tax cuts for married taxpayers with incomes greater than $250,000 ($200,000 for
singles), indexed for inflation after 2009, as proposed in Administration's FY2012 budget; reinstates 2009 estate tax rate and exemption, unindexed; limits the value of all itemized deductions and certain other
tax expenditures to 28 percent for married taxpayers with AGI greater than $250,000 ($200,000 for singles), indexed for inflation after 2009; taxes carried interest in investment partnerships as ordinary
income; closes loopholes for corporate jet depreciation; repeals oil and gas subsidies; broadens business tax base; and makes certain changes to international taxation. Estimates assume that taxpayers would
adjust their investment portfolio and optimally pay down their mortgage balance if their tax benefit from mortgage interest were reduced. For a description of TPC's current law and current policy baselines,
see
http://www.taxpolicycenter.org/T11-0270
(2) Tax units with negative cash income are excluded from the lowest income class but are included in the totals. For a description of cash income, see
http://www.taxpolicycenter.org/TaxModel/income.cfm
(3) The cash income percentile classes used in this table are based on the income distribution for the entire population and contain an equal number of people, not tax units. The incomes used are adjusted for
family size by dividing by the square root of the number of people in the tax unit. The resulting percentile breaks are (in 2011 dollars): 20% $12,690; 40% $24,714; 60% $41,203; 80% $67,700; 90% $97,816;
95% $138,772; 99% $358,601; 99.9% $1,621,178.
(4) Includes both filing and non-filing units but excludes those that are dependents of other tax units.
(5) After-tax income is cash income less: individual income tax net of refundable credits; corporate income tax; payroll taxes (Social Security and Medicare); and estate tax.
(6) Average federal tax (includes individual and corporate income tax, payroll taxes for Social Security and Medicare, and the estate tax) as a percentage of average cash income.
27-Sep-11
PRELIMINARY RESULTS; UPDATED
http://www.taxpolicycenter.org
Table T11-0366
President Obama's Proposals for the Joint Committee
Baseline: Current Policy
Distribution of Federal Tax Change by Cash Income Percentile Adjusted for Family Size, 2013 1
Detail Table - Single Tax Units
Cash Income
Percentile2,3
Lowest Quintile
Second Quintile
Middle Quintile
Fourth Quintile
Top Quintile
All
Percent of Tax Units4
With Tax
Increase
With Tax Cut
Percent Change
in After-Tax
5
Income
Share of Total
Federal Tax
Change
Average Federal Tax Change
Dollars
Percent
Share of Federal Taxes
Change (%
Points)
Under the
Proposal
Average Federal Tax Rate6
Change (%
Points)
Under the
Proposal
5.5
10.8
13.0
10.8
7.6
9.2
9.2
21.2
31.3
41.4
62.6
27.6
0.0
0.1
0.0
0.0
-2.4
-1.0
0.0
-0.7
0.0
0.7
99.7
100.0
0
-9
0
16
2,674
319
0.0
-0.6
0.0
0.1
6.8
4.1
-0.1
-0.2
-0.5
-0.8
1.6
0.0
1.2
4.6
11.9
19.9
62.3
100.0
0.0
-0.1
0.0
0.0
1.8
0.8
4.3
8.0
14.5
20.1
28.0
20.6
8.4
6.9
7.8
0.7
0.2
54.2
64.6
76.8
97.5
99.8
-0.2
-0.4
-1.2
-8.2
-11.6
2.8
3.2
12.7
81.0
46.1
140
347
1,832
57,187
355,633
0.7
1.2
3.7
16.9
18.7
-0.5
-0.3
-0.1
2.4
1.4
15.2
10.5
14.3
22.3
11.6
0.2
0.3
0.9
5.5
7.2
23.2
24.7
25.5
38.3
45.4
Addendum
80-90
90-95
95-99
Top 1 Percent
Top 0.1 Percent
Baseline Distribution of Income and Federal Taxes
by Cash Income Percentile Adjusted for Family Size, 2013 1
Cash Income
2,3
Percentile
Lowest Quintile
Second Quintile
Middle Quintile
Fourth Quintile
Top Quintile
All
Tax Units4
Number
(thousands)
Pre-Tax Income
Percent of
Total
Average
(dollars)
Federal Tax Burden
Percent of
Total
Average
(dollars)
Percent of
Total
After-Tax Income 5
Average
(dollars)
Percent of
Total
Average
Federal Tax
Rate 6
23,198
19,587
15,802
11,719
9,604
80,622
28.8
24.3
19.6
14.5
11.9
100.0
7,467
19,069
33,699
54,610
150,063
39,043
5.5
11.9
16.9
20.3
45.8
100.0
324
1,529
4,897
10,981
39,366
7,723
1.2
4.8
12.4
20.7
60.7
100.0
7,144
17,539
28,801
43,629
110,697
31,320
6.6
13.6
18.0
20.3
42.1
100.0
4.3
8.0
14.5
20.1
26.2
19.8
5,116
2,332
1,790
365
33
6.4
2.9
2.2
0.5
0.0
83,160
118,552
202,277
1,033,246
4,968,941
13.5
8.8
11.5
12.0
5.3
19,149
28,905
49,811
338,423
1,901,322
15.7
10.8
14.3
19.8
10.2
64,011
89,647
152,467
694,823
3,067,618
13.0
8.3
10.8
10.0
4.1
23.0
24.4
24.6
32.8
38.3
Addendum
80-90
90-95
95-99
Top 1 Percent
Top 0.1 Percent
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version 0411-2).
* Less than 0.05
(1) Calendar year. Baseline is current policy. Proposal: repeals certain provisions in the 2001 and 2003 individual income tax cuts for married taxpayers with incomes greater than $250,000 ($200,000 for
singles), indexed for inflation after 2009, as proposed in Administration's FY2012 budget; reinstates 2009 estate tax rate and exemption, unindexed; limits the value of all itemized deductions and certain other
tax expenditures to 28 percent for married taxpayers with AGI greater than $250,000 ($200,000 for singles), indexed for inflation after 2009; taxes carried interest in investment partnerships as ordinary
income; closes loopholes for corporate jet depreciation; repeals oil and gas subsidies; broadens business tax base; and makes certain changes to international taxation. Estimates assume that taxpayers would
adjust their investment portfolio and optimally pay down their mortgage balance if their tax benefit from mortgage interest were reduced. For a description of TPC's current law and current policy baselines,
see
http://www.taxpolicycenter.org/T11-0270
(2) Tax units with negative cash income are excluded from the lowest income class but are included in the totals. For a description of cash income, see
http://www.taxpolicycenter.org/TaxModel/income.cfm
(3) The cash income percentile classes used in this table are based on the income distribution for the entire population and contain an equal number of people, not tax units. The incomes used are adjusted for
family size by dividing by the square root of the number of people in the tax unit. The resulting percentile breaks are (in 2011 dollars): 20% $12,690; 40% $24,714; 60% $41,203; 80% $67,700; 90% $97,816; 95%
$138,772; 99% $358,601; 99.9% $1,621,178.
(4) Includes both filing and non-filing units but excludes those that are dependents of other tax units.
(5) After-tax income is cash income less: individual income tax net of refundable credits; corporate income tax; payroll taxes (Social Security and Medicare); and estate tax.
(6) Average federal tax (includes individual and corporate income tax, payroll taxes for Social Security and Medicare, and the estate tax) as a percentage of average cash income.
27-Sep-11
PRELIMINARY RESULTS; UPDATED
http://www.taxpolicycenter.org
Table T11-0366
President Obama's Proposals for the Joint Committee
Baseline: Current Policy
Distribution of Federal Tax Change by Cash Income Percentile Adjusted for Family Size, 2013 1
Detail Table - Married Tax Units Filing Jointly
Cash Income
Percentile2,3
Lowest Quintile
Second Quintile
Middle Quintile
Fourth Quintile
Top Quintile
All
Percent of Tax Units4
With Tax
Increase
With Tax Cut
Percent Change
in After-Tax
5
Income
Share of Total
Federal Tax
Change
Average Federal Tax Change
Dollars
Percent
Share of Federal Taxes
Change (%
Points)
Under the
Proposal
Average Federal Tax Rate6
Change (%
Points)
Under the
Proposal
4.3
19.1
20.3
16.6
11.5
14.9
16.6
22.7
38.7
53.4
73.2
50.7
-0.1
0.1
0.0
-0.1
-2.5
-1.7
0.0
-0.2
-0.2
0.6
99.6
100.0
9
-29
-18
42
5,141
1,724
-1.2
-1.4
-0.3
0.3
7.4
5.9
0.0
-0.1
-0.3
-0.8
1.1
0.0
-0.2
0.8
4.7
14.0
80.5
100.0
0.1
-0.1
0.0
0.0
1.9
1.3
-5.8
6.0
12.5
17.4
27.3
23.3
10.4
15.8
11.5
1.1
0.3
67.6
70.2
83.3
97.9
99.6
-0.1
-0.2
-1.5
-6.7
-8.9
1.3
1.5
14.7
82.0
46.3
142
305
3,640
78,448
434,934
0.5
0.7
4.4
15.2
17.0
-0.8
-0.6
-0.3
2.8
1.7
14.6
12.1
19.3
34.6
17.7
0.1
0.2
1.1
4.7
5.9
21.0
22.7
25.9
35.3
40.2
Addendum
80-90
90-95
95-99
Top 1 Percent
Top 0.1 Percent
Baseline Distribution of Income and Federal Taxes
by Cash Income Percentile Adjusted for Family Size, 2013 1
Cash Income
2,3
Percentile
Lowest Quintile
Second Quintile
Middle Quintile
Fourth Quintile
Top Quintile
All
Tax Units4
Number
(thousands)
Pre-Tax Income
Percent of
Total
Average
(dollars)
Federal Tax Burden
Percent of
Total
Average
(dollars)
Percent of
Total
After-Tax Income 5
Average
(dollars)
Percent of
Total
Average
Federal Tax
Rate 6
4,398
6,664
11,624
15,415
19,298
57,802
7.6
11.5
20.1
26.7
33.4
100.0
14,027
35,110
58,324
93,246
274,004
132,789
0.8
3.1
8.8
18.7
68.9
100.0
-823
2,149
7,315
16,189
69,606
29,259
-0.2
0.9
5.0
14.8
79.4
100.0
14,850
32,960
51,008
77,057
204,398
103,531
1.1
3.7
9.9
19.9
65.9
100.0
-5.9
6.1
12.5
17.4
25.4
22.0
9,190
5,048
4,018
1,042
106
15.9
8.7
7.0
1.8
0.2
135,542
188,768
331,401
1,686,659
7,429,691
16.2
12.4
17.4
22.9
10.3
28,296
42,590
82,170
516,337
2,554,003
15.4
12.7
19.5
31.8
16.0
107,246
146,178
249,231
1,170,322
4,875,688
16.5
12.3
16.7
20.4
8.6
20.9
22.6
24.8
30.6
34.4
Addendum
80-90
90-95
95-99
Top 1 Percent
Top 0.1 Percent
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version 0411-2).
* Less than 0.05
(1) Calendar year. Baseline is current policy. Proposal: repeals certain provisions in the 2001 and 2003 individual income tax cuts for married taxpayers with incomes greater than $250,000 ($200,000 for
singles), indexed for inflation after 2009, as proposed in Administration's FY2012 budget; reinstates 2009 estate tax rate and exemption, unindexed; limits the value of all itemized deductions and certain other
tax expenditures to 28 percent for married taxpayers with AGI greater than $250,000 ($200,000 for singles), indexed for inflation after 2009; taxes carried interest in investment partnerships as ordinary
income; closes loopholes for corporate jet depreciation; repeals oil and gas subsidies; broadens business tax base; and makes certain changes to international taxation. Estimates assume that taxpayers would
adjust their investment portfolio and optimally pay down their mortgage balance if their tax benefit from mortgage interest were reduced. For a description of TPC's current law and current policy baselines,
see
http://www.taxpolicycenter.org/T11-0270
(2) Tax units with negative cash income are excluded from the lowest income class but are included in the totals. For a description of cash income, see
http://www.taxpolicycenter.org/TaxModel/income.cfm
(3) The cash income percentile classes used in this table are based on the income distribution for the entire population and contain an equal number of people, not tax units. The incomes used are adjusted for
family size by dividing by the square root of the number of people in the tax unit. The resulting percentile breaks are (in 2011 dollars): 20% $12,690; 40% $24,714; 60% $41,203; 80% $67,700; 90% $97,816; 95%
$138,772; 99% $358,601; 99.9% $1,621,178.
(4) Includes both filing and non-filing units but excludes those that are dependents of other tax units.
(5) After-tax income is cash income less: individual income tax net of refundable credits; corporate income tax; payroll taxes (Social Security and Medicare); and estate tax.
(6) Average federal tax (includes individual and corporate income tax, payroll taxes for Social Security and Medicare, and the estate tax) as a percentage of average cash income.
27-Sep-11
PRELIMINARY RESULTS; UPDATED
http://www.taxpolicycenter.org
Table T11-0366
President Obama's Proposals for the Joint Committee
Baseline: Current Policy
Distribution of Federal Tax Change by Cash Income Percentile Adjusted for Family Size, 2013 1
Detail Table - Head of Household Tax Units
Cash Income
Percentile2,3
Lowest Quintile
Second Quintile
Middle Quintile
Fourth Quintile
Top Quintile
All
Percent of Tax Units4
With Tax
Increase
With Tax Cut
Percent Change
in After-Tax
5
Income
Share of Total
Federal Tax
Change
Average Federal Tax Change
Dollars
Percent
Share of Federal Taxes
Change (%
Points)
Under the
Proposal
Average Federal Tax Rate6
Change (%
Points)
Under the
Proposal
4.0
26.5
30.8
23.8
20.2
19.3
8.1
7.8
18.2
33.7
46.6
14.7
0.0
0.3
0.2
0.1
-1.5
-0.1
1.2
-46.4
-38.4
-13.6
196.6
100.0
2
-73
-100
-62
1,969
50
-0.1
-6.6
-1.4
-0.4
4.5
1.0
0.1
-0.5
-0.7
-0.5
1.5
0.0
-10.0
6.6
26.8
31.1
45.4
100.0
0.0
-0.3
-0.2
-0.1
1.1
0.1
-12.3
3.5
14.2
18.9
26.1
12.6
16.7
28.8
28.6
0.5
0.4
42.8
44.0
56.7
98.1
99.4
0.0
-0.1
-1.0
-6.7
-9.3
0.1
2.3
28.5
165.8
90.8
2
125
1,938
62,738
386,996
0.0
0.4
3.1
14.6
16.8
-0.2
0.0
0.2
1.5
0.9
16.3
6.6
9.5
13.0
6.3
0.0
0.1
0.7
4.6
6.0
22.8
23.6
24.5
36.3
41.5
Addendum
80-90
90-95
95-99
Top 1 Percent
Top 0.1 Percent
Baseline Distribution of Income and Federal Taxes
by Cash Income Percentile Adjusted for Family Size, 2013 1
Cash Income
2,3
Percentile
Lowest Quintile
Second Quintile
Middle Quintile
Fourth Quintile
Top Quintile
All
Tax Units4
Number
(thousands)
Pre-Tax Income
Percent of
Total
Average
(dollars)
Federal Tax Burden
Percent of
Total
Average
(dollars)
Percent of
Total
After-Tax Income 5
Average
(dollars)
Percent of
Total
Average
Federal Tax
Rate 6
8,232
8,034
4,869
2,769
1,263
25,256
32.6
31.8
19.3
11.0
5.0
100.0
12,526
29,745
49,199
75,439
175,207
39,986
10.2
23.7
23.7
20.7
21.9
100.0
-1,538
1,110
7,075
14,327
43,685
4,975
-10.1
7.1
27.4
31.6
43.9
100.0
14,065
28,635
42,124
61,112
131,521
35,011
13.1
26.0
23.2
19.1
18.8
100.0
-12.3
3.7
14.4
19.0
24.9
12.4
814
230
186
33
3
3.2
0.9
0.7
0.1
0.0
111,657
154,037
266,330
1,361,869
6,471,563
9.0
3.5
4.9
4.5
1.9
25,425
36,163
63,267
431,246
2,299,303
16.5
6.6
9.4
11.5
5.4
86,232
117,874
203,063
930,622
4,172,260
7.9
3.1
4.3
3.5
1.4
22.8
23.5
23.8
31.7
35.5
Addendum
80-90
90-95
95-99
Top 1 Percent
Top 0.1 Percent
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version 0411-2).
* Less than 0.05
(1) Calendar year. Baseline is current policy. Proposal: repeals certain provisions in the 2001 and 2003 individual income tax cuts for married taxpayers with incomes greater than $250,000 ($200,000 for
singles), indexed for inflation after 2009, as proposed in Administration's FY2012 budget; reinstates 2009 estate tax rate and exemption, unindexed; limits the value of all itemized deductions and certain other
tax expenditures to 28 percent for married taxpayers with AGI greater than $250,000 ($200,000 for singles), indexed for inflation after 2009; taxes carried interest in investment partnerships as ordinary
income; closes loopholes for corporate jet depreciation; repeals oil and gas subsidies; broadens business tax base; and makes certain changes to international taxation. Estimates assume that taxpayers would
adjust their investment portfolio and optimally pay down their mortgage balance if their tax benefit from mortgage interest were reduced. For a description of TPC's current law and current policy baselines,
see
http://www.taxpolicycenter.org/T11-0270
(2) Tax units with negative cash income are excluded from the lowest income class but are included in the totals. For a description of cash income, see
http://www.taxpolicycenter.org/TaxModel/income.cfm
(3) The cash income percentile classes used in this table are based on the income distribution for the entire population and contain an equal number of people, not tax units. The incomes used are adjusted for
family size by dividing by the square root of the number of people in the tax unit. The resulting percentile breaks are (in 2011 dollars): 20% $12,690; 40% $24,714; 60% $41,203; 80% $67,700; 90% $97,816; 95%
$138,772; 99% $358,601; 99.9% $1,621,178.
(4) Includes both filing and non-filing units but excludes those that are dependents of other tax units.
(5) After-tax income is cash income less: individual income tax net of refundable credits; corporate income tax; payroll taxes (Social Security and Medicare); and estate tax.
(6) Average federal tax (includes individual and corporate income tax, payroll taxes for Social Security and Medicare, and the estate tax) as a percentage of average cash income.
27-Sep-11
PRELIMINARY RESULTS; UPDATED
http://www.taxpolicycenter.org
Table T11-0366
President Obama's Proposals for the Joint Committee
Baseline: Current Policy
1
Distribution of Federal Tax Change by Cash Income Percentile Adjusted for Family Size, 2013
Detail Table - Tax Units with Children
Cash Income
Percentile2,3
Lowest Quintile
Second Quintile
Middle Quintile
Fourth Quintile
Top Quintile
All
Percent of Tax Units4
With Tax
Increase
With Tax Cut
Percent Change
in After-Tax
Income5
Share of Total
Federal Tax
Change
Average Federal Tax Change
Dollars
Percent
Share of Federal Taxes
Change (%
Points)
Under the
Proposal
Average Federal Tax Rate6
Change (%
Points)
Under the
Proposal
3.9
27.1
30.9
23.5
17.3
20.6
8.5
10.5
23.9
42.9
66.4
28.9
0.0
0.2
0.2
0.0
-2.7
-1.3
0.1
-1.6
-1.8
-0.1
103.2
100.0
4
-69
-83
-5
5,846
957
-0.2
-5.8
-0.9
0.0
7.4
5.1
0.1
-0.1
-0.5
-1.0
1.6
0.0
-2.2
1.2
9.0
19.4
72.4
100.0
0.0
-0.2
-0.1
0.0
2.0
1.0
-15.8
3.3
14.5
18.9
28.5
21.3
12.5
34.4
13.1
0.8
0.1
62.8
54.1
84.0
97.9
99.9
-0.1
-0.2
-2.1
-7.5
-9.4
1.1
1.1
20.1
80.9
41.3
115
265
5,982
100,114
555,897
0.3
0.5
5.8
15.8
17.1
-0.7
-0.5
0.1
2.7
1.4
15.5
10.7
17.6
28.6
13.6
0.1
0.1
1.5
5.1
6.1
22.4
23.8
27.7
37.3
41.5
Addendum
80-90
90-95
95-99
Top 1 Percent
Top 0.1 Percent
Baseline Distribution of Income and Federal Taxes
by Cash Income Percentile Adjusted for Family Size, 2013 1
Cash Income
Percentile2,3
Lowest Quintile
Second Quintile
Middle Quintile
Fourth Quintile
Top Quintile
All
Tax Units4
Number
(thousands)
Pre-Tax Income
Percent of
Total
Average
(dollars)
Federal Tax Burden
Percent of
Total
Average
(dollars)
Percent of
Total
After-Tax Income 5
Average
(dollars)
Percent of
Total
Average
Federal Tax
Rate 6
10,088
10,789
10,009
9,950
8,349
49,418
20.4
21.8
20.3
20.1
16.9
100.0
13,356
33,957
60,740
101,182
298,935
93,026
2.9
8.0
13.2
21.9
54.3
100.0
-2,114
1,196
8,903
19,148
79,223
18,899
-2.3
1.4
9.5
20.4
70.8
100.0
15,469
32,761
51,837
82,034
219,712
74,127
4.3
9.7
14.2
22.3
50.1
100.0
-15.8
3.5
14.7
18.9
26.5
20.3
4,396
1,981
1,589
382
35
8.9
4.0
3.2
0.8
0.1
154,877
221,864
392,402
1,966,324
9,174,185
14.8
9.6
13.6
16.4
7.0
34,568
52,480
102,860
633,047
3,251,728
16.3
11.1
17.5
25.9
12.2
120,310
169,384
289,541
1,333,277
5,922,458
14.4
9.2
12.6
13.9
5.7
22.3
23.7
26.2
32.2
35.4
Addendum
80-90
90-95
95-99
Top 1 Percent
Top 0.1 Percent
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version 0411-2).
* Less than 0.05
Note: Tax units with children are those claiming an exemption for children at home or away from home.
(1) Calendar year. Baseline is current policy. Proposal: repeals certain provisions in the 2001 and 2003 individual income tax cuts for married taxpayers with incomes greater than $250,000 ($200,000 for
singles), indexed for inflation after 2009, as proposed in Administration's FY2012 budget; reinstates 2009 estate tax rate and exemption, unindexed; limits the value of all itemized deductions and certain other
tax expenditures to 28 percent for married taxpayers with AGI greater than $250,000 ($200,000 for singles), indexed for inflation after 2009; taxes carried interest in investment partnerships as ordinary
income; closes loopholes for corporate jet depreciation; repeals oil and gas subsidies; broadens business tax base; and makes certain changes to international taxation. Estimates assume that taxpayers would
adjust their investment portfolio and optimally pay down their mortgage balance if their tax benefit from mortgage interest were reduced. For a description of TPC's current law and current policy baselines,
see
http://www.taxpolicycenter.org/T11-0270
(2) Tax units with negative cash income are excluded from the lowest income class but are included in the totals. For a description of cash income, see
http://www.taxpolicycenter.org/TaxModel/income.cfm
(3) The cash income percentile classes used in this table are based on the income distribution for the entire population and contain an equal number of people, not tax units. The incomes used are adjusted for
family size by dividing by the square root of the number of people in the tax unit. The resulting percentile breaks are (in 2011 dollars): 20% $12,690; 40% $24,714; 60% $41,203; 80% $67,700; 90% $97,816;
95% $138,772; 99% $358,601; 99.9% $1,621,178.
(4) Includes both filing and non-filing units but excludes those that are dependents of other tax units.
(5) After-tax income is cash income less: individual income tax net of refundable credits; corporate income tax; payroll taxes (Social Security and Medicare); and estate tax.
(6) Average federal tax (includes individual and corporate income tax, payroll taxes for Social Security and Medicare, and the estate tax) as a percentage of average cash income.
27-Sep-11
PRELIMINARY RESULTS; UPDATED
http://www.taxpolicycenter.org
Table T11-0366
President Obama's Proposals for the Joint Committee
Baseline: Current Policy
1
Distribution of Federal Tax Change by Cash Income Percentile Adjusted for Family Size, 2013
Detail Table - Elderly Tax Units
Cash Income
Percentile2,3
Lowest Quintile
Second Quintile
Middle Quintile
Fourth Quintile
Top Quintile
All
Percent of Tax Units4
With Tax
Increase
With Tax Cut
Percent Change
in After-Tax
Income5
Share of Total
Federal Tax
Change
Average Federal Tax Change
Dollars
Percent
Share of Federal Taxes
Change (%
Points)
Under the
Proposal
Average Federal Tax Rate6
Change (%
Points)
Under the
Proposal
*
0.7
4.5
5.9
5.1
3.2
12.4
33.9
60.2
76.4
87.1
53.6
0.0
-0.1
-0.1
-0.2
-3.2
-1.8
0.0
0.3
1.1
2.1
96.4
100.0
3
14
51
130
5,593
1,082
4.0
4.4
2.6
1.7
10.1
8.9
0.0
0.0
-0.2
-0.7
1.0
0.0
0.1
0.6
3.5
10.2
85.5
100.0
0.0
0.1
0.1
0.2
2.4
1.5
0.7
1.6
5.1
11.2
26.1
18.6
5.6
5.2
5.1
0.8
0.8
83.3
87.1
92.1
97.7
99.1
-0.4
-0.6
-1.5
-7.7
-10.4
3.1
3.3
12.2
77.9
45.3
386
750
3,133
73,095
414,690
2.3
2.6
5.3
16.7
18.3
-0.7
-0.6
-0.7
3.0
1.9
11.0
10.5
19.6
44.5
24.0
0.4
0.5
1.2
5.3
6.6
16.0
19.2
23.2
36.9
42.8
Addendum
80-90
90-95
95-99
Top 1 Percent
Top 0.1 Percent
Baseline Distribution of Income and Federal Taxes
by Cash Income Percentile Adjusted for Family Size, 2013 1
Cash Income
Percentile2,3
Lowest Quintile
Second Quintile
Middle Quintile
Fourth Quintile
Top Quintile
All
Tax Units4
Number
(thousands)
Pre-Tax Income
Percent of
Total
Average
(dollars)
Federal Tax Burden
Percent of
Total
Average
(dollars)
Percent of
Total
After-Tax Income 5
Average
(dollars)
Percent of
Total
Average
Federal Tax
Rate 6
5,988
9,396
8,334
6,402
6,913
37,068
16.2
25.4
22.5
17.3
18.7
100.0
9,531
20,198
40,053
69,759
232,751
71,055
2.2
7.2
12.7
17.0
61.1
100.0
66
316
1,981
7,707
55,130
12,158
0.1
0.7
3.7
11.0
84.6
100.0
9,464
19,882
38,072
62,051
177,621
58,897
2.6
8.6
14.5
18.2
56.2
100.0
0.7
1.6
5.0
11.1
23.7
17.1
3,175
1,753
1,557
427
44
8.6
4.7
4.2
1.2
0.1
105,683
152,604
266,474
1,382,440
6,274,992
12.7
10.2
15.8
22.4
10.4
16,542
28,583
58,752
437,430
2,272,821
11.7
11.1
20.3
41.5
22.1
89,141
124,021
207,722
945,010
4,002,171
13.0
10.0
14.8
18.5
8.0
15.7
18.7
22.1
31.6
36.2
Addendum
80-90
90-95
95-99
Top 1 Percent
Top 0.1 Percent
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version 0411-2).
* Less than 0.05
Note: Elderly tax units are those with either head or spouse (if filing jointly) age 65 or older.
(1) Calendar year. Baseline is current policy. Proposal: repeals certain provisions in the 2001 and 2003 individual income tax cuts for married taxpayers with incomes greater than $250,000 ($200,000 for
singles), indexed for inflation after 2009, as proposed in Administration's FY2012 budget; reinstates 2009 estate tax rate and exemption, unindexed; limits the value of all itemized deductions and certain other
tax expenditures to 28 percent for married taxpayers with AGI greater than $250,000 ($200,000 for singles), indexed for inflation after 2009; taxes carried interest in investment partnerships as ordinary
income; closes loopholes for corporate jet depreciation; repeals oil and gas subsidies; broadens business tax base; and makes certain changes to international taxation. Estimates assume that taxpayers would
adjust their investment portfolio and optimally pay down their mortgage balance if their tax benefit from mortgage interest were reduced. For a description of TPC's current law and current policy baselines,
see
http://www.taxpolicycenter.org/T11-0270
(2) Tax units with negative cash income are excluded from the lowest income class but are included in the totals. For a description of cash income, see
http://www.taxpolicycenter.org/TaxModel/income.cfm
(3) The cash income percentile classes used in this table are based on the income distribution for the entire population and contain an equal number of people, not tax units. The incomes used are adjusted for
family size by dividing by the square root of the number of people in the tax unit. The resulting percentile breaks are (in 2011 dollars): 20% $12,690; 40% $24,714; 60% $41,203; 80% $67,700; 90% $97,816;
95% $138,772; 99% $358,601; 99.9% $1,621,178.
(4) Includes both filing and non-filing units but excludes those that are dependents of other tax units.
(5) After-tax income is cash income less: individual income tax net of refundable credits; corporate income tax; payroll taxes (Social Security and Medicare); and estate tax.
(6) Average federal tax (includes individual and corporate income tax, payroll taxes for Social Security and Medicare, and the estate tax) as a percentage of average cash income.